- Riverside invested in Guestline in March 2016
- Access Group is a portfolio company of Hg Capital, TA Associates and GIC
- Riverside is a global private equity firm based in New York
The Riverside Company has signed a definitive agreement to sell Guestline, a UK-based provider of mission critical software for the hospitality sector, to Access Group.
No financial details of the transaction were disclosed.
Guestline is based in Shropshire, UK.
“The sale of Guestline marks the sixth exit achieved by the Riverside Europe team over the past 18 months, and again demonstrates our ability to support leading mid-market businesses through organic and inorganic growth initiatives,” said Karsten Langer, managing partner at Riverside Europe. “Despite the challenges of Brexit and Covid-19, Guestline’s revenue and earnings more than doubled during our investment period.”
Access is a provider of software to small and medium-sized enterprises (SME) and mid-market companies. The company is based in Loughborough, England.
Riverside is a global private equity firm focused on investing in growing businesses valued at up to $400 million. The firm is based in New York.
Riverside and Guestline were advised by William Blair (exclusive M&A advisor) and Jones Day (legal). Vendor due diligence was provided by Strategy& (commercial and technology) and KPMG (financial and tax).